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NFT Sellers Will Have To Start Paying Taxes On Their JPEGs

Joe Biden UPS Digital Twitter

07.11.2021 - 21:03

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thegamer.com:

It could hardly get more poetic. In the same week that gaming companies have been jumping on the bandwagon, NFTs now getting regulated.

President Joe Biden's infrastructure bill has finally passed, and among the many areas it covers, it appears that cryptocurrency is going to be regulated. Any crypto purchase of over $10,000 must now be declared to the IRS - and seemingly to avoid loopholes, NFTs and other digital assets will be considered cash.

Related: Gaming NFTs Will Never Work

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NFT Sellers Will Have To Start Paying Taxes On Their JPEGs

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